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Executive Mosaic’s GovCon Index started February on a losing note, ending lower Friday at $4,805.44 (-0.10%) following a fourth daily loss in five trading sessions. The week also saw breakouts of individual constituents and steep losses by defense stocks. The index, which tracks the stock performances of 30 major government contractors, lost -1.83...
HII reported $3 billion in fourth-quarter revenues for fiscal 2024 and saw its full-year revenue increase 0.7 percent to $11.5 billion. In an earnings release published Thursday, the military shipbuilding company logged $12.1 billion in new contract awards and ended the year with a total backlog of approximately $48.7 billion. HII recorded quarterly...
Honeywell has announced plans to separate its automation and aerospace technologies businesses into two standalone public entities as the multinational conglomerate continues to simplify its operating structure and optimize its portfolio to drive growth. The move came four months after Honeywell announced plans to spin off its advanced material...
Mike Marshall, a former principal and health market business leader at Booz Allen Hamilton, has joined technology consulting and partner training provider Fedstack as senior vice president for client solutions. The company said Thursday Marshall’s hiring is geared toward establishing its position as an integral partner to federal clients. R...
Vehicle software supplier Applied Intuition has acquired autonomy software provider EpiSys Science, also known as EpiSci. The companies said Thursday the move is part of a strategy to position Applied Intuition’s defense business as one of the leading developers of autonomy software for all-domain applications. The acquisition deal will see Ep...
Andrew Benson has joined General Dynamics Information Technology to serve as vice president of pricing, the executive announced in a LinkedIn post published Thursday. Benson, who returned to GDIT after stints at Booz Allen Hamilton and Astrion, most recently held the same role at the Brightstar Capital Partners company. At Booz Allen, he worked as...
The State Department has approved the request of Kuwait to purchase design and construction services and related equipment under the Foreign Military Sales program. The possible transaction is estimated to amount to $1 billion and will cover maritime and land facilities at the Mohammed Al Ahmed Naval Base, the Defense Security Cooperation Agency sai...
A federal judge on Thursday temporarily blocked a scheme by the Trump administration to whittle down the size of the federal workforce by encouraging federal employees to resign by accepting a buyout package, Reuters reported. Under the buyout offer, federal workers will receive their regular salaries and benefits until October without being require...
Digital services provider DMI has divested a business segment to digital engineering services firm Encora to strengthen its focus on delivering innovative technology platforms to federal, state and local government agencies and providing managed services for public sector and commercial customers. Advancing Digital Transformation Following the sale,...
Cisco has completed its purchase of SnapAttack, a cybersecurity-focused spinoff of Booz Allen Hamilton. “We spun out SnapAttack because we believe in the power of dual-use technology to speed outcomes,” said Booz Allen Chief Financial Officer Matt Calderone said in a statement published Wednesday. “When great products scale in the commercial m...
